Global AI in Telecommunications to See CAGR of 42.16% from 2019-2023

Newly published research from ReportLinker indicates that the global artificial intelligence in telecommunications market will see a compound annual growth rate (CAGR) of 42.16 percent in the forecast period 2019-2023. An excerpt from the report summary reads:

The upsurge in mobile data traffic & smartphone users across the world and the integration of AI with newer wireless networks will necessarily drive the global AI in the telecom market.Concerns related to incompatibility, the unreliability of artificial intelligence algorithms, lack of skilled personnel & difficulties in the protection of confidential & private data are the primary challenges faced by the market players.

With the proliferation of the microcomputer, advanced microprocessor and improved network connection in the 1990s and 2000s, researchers have designed new AI systems for telecom industry that helped in increasing the operational efficiency with the expertise of telecom operators.

IBM (NYSE:IBM) has made its AI platform Watson widely available. According to the press release, it is now "portable across any cloud and empowered businesses to prevent vendor lock-in and start deploying AI wherever their data resides". Rob Thomas, General Manager of IBM Data and AI, said:

"Businesses have largely been limited to experimenting with AI in siloes due to the limitations caused by cloud provider lock-in of their data. With most large organizations storing data across hybrid cloud environments, they need the freedom and choice to apply AI to their data wherever it is stored. By breaking open that siloed infrastructure we can help businesses accelerate their transformation through AI."

"We are delighted to announce our new partnership with Redington. Nuance Dragon technology is the world's leading speech recognition solution for writing documents and demand for Dragon continues to build. Our partnership with Redington will extend local reseller access to our Dragon platform, grow our end-user customer base, and support our partner-centric distribution strategy."

Gridsum Holding Inc. (NasdaqGS:GSUM) has formed a strategic partnership with digital solutions provider New H3C Group. The partnership is aimed at building at platform to foster industrial transformation and digitization. Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented:

"New H3C is helping to drive the innovation of digital solutions across China's many industries. We are excited to have the opportunity to work with them to apply our cutting-edge technologies to the manufacturing process. Both companies share a similar philosophy and vision for the future and believe this will greatly benefit China's efforts to [digitize] and transform industries."

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